I'm bit confused here.Last month before Tobaski the Dollar fell to 
Dalasi  from D34 for $1 to  D28 for $1.Currently the exchange rate is 
D33 to $1. What is going on?
hous

-----Original Message-----
From: C. Omar Kebbeh <[log in to unmask]>
To: GAMBIA-L <[log in to unmask]>
Sent: Fri, Nov 16, 2012 2:58 pm
Subject: [G_L] AT LAST BABILI MANSA IS LISTENING TO HIS ADVISORS

Govt withdraws move on foreign currency hoardingAfrica » Gambia


Friday, November 16, 2012
The Office of the President has withdrawn moves taken last month on 
speculative activities and dollar hoarding it said was meant to 
manipulate the dalasi exchange rate.A statement issued by the 
presidency yesterday announced that the exchange rate for the dalasi is 
market determined, and it would uphold that regime.The presidency said 
it has observed that since the last press release on Operation No 
Compromise on foreign currency hoarding, the general public and 
licensed foreign exchange dealers have been complying 
satisfactorily.“As a result, the Office of the President has decided to 
withdraw the instructions given earlier on speculative activities and 
hoarding meant to manipulate the dalasi exchange rate,” it stated.“The 
Office of the President announces for the information of the general 
public and licensed foreign exchange dealers that the exchange rate of 
the dalasi is market determined and would uphold that regime, but would 
at the same time not tolerate any attempt to thwart the swift or smooth 
functioning of the foreign exchange market,” the statement added.The 
authorized shipment of foreign currency through the banking system, the 
presidency noted, shall continue under the guidelines established by 
the Central Bank of The Gambia.However, the presidency warned that 
anyone found not playing by the rules of transparent market practices 
will be dealt with according to law.It said authorities will, 
therefore, continue to closely monitor the foreign exchange market to 
ensure orderly operation.


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